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Rupee closes at 3-month high against US dollar

1 min read
Fx currencies

The Indian rupee on Thursday hit a three-month high against the US dollar amid robust gains in domestic equity market.

The Indian unit closed at 75.01 a dollar, a level last seen on 27 March, up from its previous close of 75.60. It had opened at 75.50 and touched an intra-day high of 74.98 and a low of 75.53. Year to date, the currency has shed 4.84%.

Forex traders said positive domestic equities and a weak US dollar supported the local unit.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.26%to 96.94 as developments around the covid-19 vaccine buoyed investor risk appetite.

The benchmark Sensex closed up 429.25 points or 1.21% at 35843.70, and the Nifty was up 121.70 points or 1.17% at 10551.70.

Foreign institutional investors net sold $2.44 billion and $14.28 billion in equity and debt markets respectively and domestic institutional investors invested 90,286.25 crore in stocks, according to data on the exchanges.

Among Asian currencies, Korean won lost 0.28%, Philippines Peso lost 0.16% and Singapore Dollar lost 0.10%. However, Indonesian Rupiah gained 0.67% and Thai Baht gained 0.09%.

billion in equity and debt markets respectively and domestic institutional investors invested 90,286.25 crore in stocks, according to data on the exchanges.

Among Asian currencies, Korean won lost 0.28%, Philippines Peso lost 0.16% and Singapore Dollar lost 0.10%. However, Indonesian Rupiah gained 0.67% and Thai Baht gained 0.09%.

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